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U.S. employment data fell short of expectations, leading to increased market anticipation of a rate cut by the Federal Reserve in June. According to RTHK, this development caused both the U.S. dollar and Treasury yields to decline. The dollar index decreased by 0.2%, closing at 98.85, although it rose over 1% for the week.

On Friday, the euro appreciated by approximately 0.1% against the dollar, while the British pound increased by 0.4%. The dollar also gained 0.1% against the Japanese yen. The yield on the U.S. 10-year Treasury note briefly fell by more than 4 basis points to 4.105%, while the more rate-sensitive 2-year Treasury yield dropped by 8 basis points to 3.519%. Both yields later narrowed their declines, settling around 4.13% and 3.55%, respectively.

Bitcoin fell sharply as war fears triggered panic selling.Tensions near the Strait of Hormuz are pushing oil prices higher.Short term is weak, but long-term crypto demand may grow.

The US stepping into the Iran-Israel conflict in late February 2026 has shaken global markets, which also includes crypto. Under the military operations called “Roaring Lion” and “Epic Fury,” tensions escalated quickly, creating fear among investors.

Right after the announcement by US President Donald Trump about “major combat operations,” the crypto market reacted immediately. Bitcoin dropped by almost 8% within hours. This sudden fall wiped out more than $128 billion from the total crypto market value. This indicates that the crypto market gets significantly affected when such global events take place.

When situations like these arise, investors usually move their money into what they see as “safer options,” and these options include precious metals such as gold, silver and government-backed assets. This is why crypto, which is still considered to be risky, usually sees quick sell-offs during such times.

The situation this time around is more serious because of the impact this war is going to have. Reports of the killing of Iran’s Supreme Leader Ali Khamenei and the country’s retaliation through missile attacks have spread a sense of fear amongst various religious communities.

One of the major concerns also is the Strait of Hormuz, which is a key route for global oil transport, which has become disrupted mainly by military actions or threats from Iran during the conflict and this could cause oil prices to rise at a great speed.

As the prices of oil would increase, there might be possible sanctions, global uncertainty will grow and all of this would add pressure on the financial markets.

Immediate Market Action

On February 28, 2026, Bitcoin dropped from about $66,000 to $63,000. Ethereum and Solana fell even more, losing up to 20%. The total crypto market lost huge value after Iran launched drone and missile attacks on US bases and Gulf airports.#USIranWarEscalation #JobsDataShock $BTC